Business News in brief

Ho Chi Minh City Stock Exchange has recently decided to suspend operations of VIT Securities Company from June 5 to 18 for failure to make fee payment. VIT Securities Company, formerly Nam Viet Securities Company, was established in 2007. Since its establishment, the company has been running at a loss for six consecutive years. At the end of 2012, the company’s total assets exceeded VND31 billion with accumulated loss of more than VND20 billion and owner’s equity of VND46 billion.

The State Securities Commission of Vietnam has accepted Nguyen Minh Nhat’s public offer to purchase 3.6 million shares of Alphanam Mechanical Electric Joint Stock Company (AME), a subsidiary of Alphanam Investment Joint Stock Company (ALP), and is in warning status for running at a loss for two straight years.

Dong Phu Rubber Joint Stock Company (DPR) announced that it will close its list of shareholders on June 14 to pay dividends for the third term of 2012 in cash at a ratio of 10 percent on June 27. This year, the company targets revenue of VND935 billion, pre-tax profit of VND515 billion, and dividend payout ratio of 30 percent. In the first quarter of this year, the company reached revenue of VND241 billion, pre-tax profit of VND79.9 billion, and post-tax profit of VND72.1 billion.

DIC DONG TIEN Joint Stock Company (DID) announced that Tran Hoang Tuan, member of the Board of Directors, registered to buy 1 million shares until June 28 to increase his ownership to 1.25 million shares. Last year, the company reached revenue of VND96.6 billion and pre-tax profit of VND1 billion. This year, it planned to achieve an income of VND135 billion, pre-tax profit of VND5.5 billion, and dividend payout ratio of 8 percent.

Vimeo Joint Stock Company (VMC) announced that it will close its list of shareholders on June 24 to pay dividends for the year 2012 in cash at a ratio of 10 percent on July 19. This year, the company plans to maintain dividend payout ratio at 10 percent. In the first quarter of this year, the company saw pre-tax profit of VND2.7 billion, a decrease of 11.6 percent year-on-year, with earnings per share at VND488.

Becamex Asphalt & Concrete Joint Stock Company (ACC) announced that it will close its list of shareholders on June 11 to pay dividends for the year 2012 in cash at a ratio of 40 percent on June 28. The company recently approved a business plan for this year with revenue of VND385 billion, pre-tax profit of VND57.6 billion, and a minimum dividend payout ratio of 25 percent.

Vinh Son-Song Hinh Hydropower Joint Stock Company (VSH) recently agreed to sell 4 million treasury shares at VND12,000-15,000 per share. In the first quarter of this year, the company reached net revenue of VND60 billion, and pre-tax profit of VND35.3 billion, a decrease of 40 percent and 46 percent, respectively, year-on-year.

Tan Dai Hung Plastic Joint Stock Company (TPC) approved this year’s business plan with a production of 8,600 tons of plastic bags, of which more than 50 percent is for export, an income of VND435 billion, pre-tax profit of VND21.6 billion, and dividend payout ratio of 10 percent. In 2012, the company achieved net revenue of VND607.4 billion, net profit of VND30 billion, a drop of 16.5 percent and 20 percent respectively compared to the previous year, and dividend payout ratio of 14 percent.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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